Tesla Q2 Earnings Highlights: Revenue Beat, EPS Beat, Cybertruck Update And More
Portfolio Pulse from Chris Katje
Tesla Inc (NASDAQ:TSLA) reported Q2 financial results with revenue of $24.93 billion, up 47% YoY, beating the Street consensus estimate of $24.48 billion. The company also reported a profit of 91 cents per share, beating the estimate of 82 cents per share. However, operating margins were lower than previous quarters at 9.6%, and gross margins were 18.2%, lower than the 25% reported a year ago. The company ended the quarter with $184 million in digital assets. Tesla also highlighted its progress on the Cybertruck, which remains on track for initial deliveries this year.

July 19, 2023 | 8:28 pm
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Tesla's Q2 results beat estimates, but lower margins may concern investors. The progress on the Cybertruck could boost investor confidence.
Tesla's better-than-expected Q2 results could boost its stock price in the short term. However, the lower margins might raise concerns about profitability. The progress on the Cybertruck, a highly anticipated product, could increase investor confidence in the company's future growth.
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IMPORTANCE 80
RELEVANCE 100